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Inter Vivos
Describes actions or transactions that take place during the lifetime of an individual, often used in the context of gifts or trusts created while the donor is alive.
Grandfather
A term often used to describe clauses that exempt certain individuals or entities from new regulations based on previous conditions.
Bailment
The legal relationship created when personal property is transferred from one party to another under agreement that the property will be returned or otherwise disposed of according to the owner's directions.
Mutual Benefit
refers to a situation or action that provides advantages or positive outcomes to all parties involved.
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